CIBC Asset Management Inc Has $9.32 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

CIBC Asset Management Inc lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,208 shares of the company’s stock after buying an additional 3,222 shares during the period. CIBC Asset Management Inc’s holdings in Datadog were worth $9,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Baillie Gifford & Co. raised its holdings in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after buying an additional 125,457 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Datadog

In related news, President Amit Agarwal sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the sale, the president now owns 195,667 shares in the company, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock valued at $82,904,025 over the last three months. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and dropped their price target for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. Robert W. Baird raised their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, TD Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $158.39.

Datadog Trading Down 0.3 %

NASDAQ:DDOG opened at $130.63 on Wednesday. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 246.48, a PEG ratio of 16.83 and a beta of 1.15. The stock has a 50-day moving average price of $144.49 and a two-hundred day moving average price of $131.36. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. Sell-side analysts forecast that Datadog, Inc. will post 0.53 earnings per share for the current year.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.